Review of Nationwide Insurance

‘Nationwide is on your side’ has become a trademark expression of Nationwide Insurance for the last decade as this company has come out of the shadows to reinvent and prove itself a contender for national prominence in the insurance industry. Nationwide Insurance is headquartered in Ohio - the state where it began its small and unassuming beginnings before the Great Depression, making it one of the oldest insurance companies in the United States.

History

Nationwide Insurance began in 1925 as the Farm Bureau Mutual Automobile Insurance Company (FBMAIC) with the intention of simply providing low-rate auto insurance for rural drivers in Ohio. It began expanding to other states as early as 1928 and began to offer property insurance policies as well.

In 1955 the owners of the company realized that they had expanded so far beyond their original scope and boundaries that the name of the company did not quite suit it any longer. So with an additional expansion to the Western United States, the company changed its name to Nationwide Insurance. In 1997, Nationwide Financial went public and in 2007 Nationwide Bank opened to the public.

Corporate Operations & Community Involvement

Nationwide Insurance is currently governed by a board of directors and has more than 35,000 employees and 16,000,000 policies in place. Based on the number of policies written, they are the #1 writer of farm owner insurance, the 6th largest property and casualty insurer, the 4th largest homeowner insurer and the 6th largest auto insurer. They also provide plans for life insurance and retirement savings consultation as well.

In the community, Nationwide works closely with such organizations as the United Way and the American Red Cross. Nationwide also has its own Children’s Hospital which is committed to providing quality care to all children regardless of their ability to pay. Nationwide also has a Foundation which is dedicated to philanthropic investments in communities all across the country.

Other Service Types

Nationwide Insurance also offers specialty insurances that are more difficult to find with other insurers in the nation such as Accident Medical Insurance which provides coverage to sports teams, camps or clubs, offering to cover the entire group in case of an accident. Insurance for businesses is also available along with pet insurance, travel insurance and finally, banking services are offered as well.